Van Berkom & Associates Inc. Has $86.13 Million Stock Position in Ormat Technologies, Inc. $ORA

Van Berkom & Associates Inc. lowered its stake in Ormat Technologies, Inc. (NYSE:ORA) by 14.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 894,835 shares of the energy company’s stock after selling 147,166 shares during the period. Ormat Technologies makes up 2.5% of Van Berkom & Associates Inc.’s holdings, making the stock its 14th biggest holding. Van Berkom & Associates Inc.’s holdings in Ormat Technologies were worth $86,128,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Curio Wealth LLC increased its holdings in Ormat Technologies by 29,200.0% in the 2nd quarter. Curio Wealth LLC now owns 293 shares of the energy company’s stock valued at $25,000 after buying an additional 292 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Ormat Technologies by 43.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 371 shares of the energy company’s stock worth $35,000 after acquiring an additional 113 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Ormat Technologies by 251.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company’s stock worth $44,000 after acquiring an additional 374 shares in the last quarter. AlphaQuest LLC increased its stake in Ormat Technologies by 218.0% in the third quarter. AlphaQuest LLC now owns 547 shares of the energy company’s stock valued at $53,000 after acquiring an additional 375 shares during the last quarter. Finally, CWM LLC raised its position in Ormat Technologies by 17.1% during the third quarter. CWM LLC now owns 1,098 shares of the energy company’s stock valued at $106,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $125.00 target price on shares of Ormat Technologies in a report on Monday, November 24th. Piper Sandler raised their price objective on Ormat Technologies from $102.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. JPMorgan Chase & Co. boosted their target price on Ormat Technologies from $99.00 to $111.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. UBS Group raised their price target on shares of Ormat Technologies from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Robert W. Baird set a $143.00 price target on shares of Ormat Technologies in a report on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Ormat Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $128.00.

Insider Buying and Selling at Ormat Technologies

In other news, Director Ravit Barniv sold 1,753 shares of Ormat Technologies stock in a transaction on Friday, November 7th. The shares were sold at an average price of $112.54, for a total transaction of $197,282.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica Woelfel sold 721 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $115.00, for a total value of $82,915.00. Following the completion of the sale, the insider owned 3,433 shares of the company’s stock, valued at $394,795. The trade was a 17.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,860 shares of company stock worth $4,601,530 over the last ninety days. Insiders own 0.56% of the company’s stock.

Ormat Technologies Stock Up 3.1%

Shares of NYSE ORA opened at $129.65 on Wednesday. The company has a 50 day simple moving average of $116.01 and a 200 day simple moving average of $104.52. The firm has a market cap of $7.88 billion, a PE ratio of 59.47, a price-to-earnings-growth ratio of 4.98 and a beta of 0.77. Ormat Technologies, Inc. has a 1 year low of $61.93 and a 1 year high of $130.12. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.77 and a quick ratio of 0.70.

Ormat Technologies (NYSE:ORA) last posted its earnings results on Monday, November 3rd. The energy company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $249.73 million for the quarter, compared to analyst estimates of $235.03 million. Ormat Technologies had a net margin of 14.12% and a return on equity of 5.35%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. On average, research analysts forecast that Ormat Technologies, Inc. will post 1.94 EPS for the current year.

Ormat Technologies Profile

Ormat Technologies, Inc is a leading renewable energy company specializing in geothermal and recovered energy power plants. Through its vertically integrated business model, Ormat designs, develops, engineers, constructs, owns and operates clean energy projects worldwide. The company’s core technology centers on the Organic Rankine Cycle (ORC), which converts heat from geothermal sources or industrial waste streams into sustainable electricity without combustion.

Ormat’s offering includes turnkey power plant solutions, proprietary ORC equipment and ongoing operations and maintenance services.